OR Royalties (NYSE:OR) Price Target Raised to $47.00

OR Royalties (NYSE:OR) had its price target boosted by Royal Bank Of Canada from $45.00 to $47.00 in a report issued on Wednesday morning,Benzinga reports. Royal Bank Of Canada currently has an outperform rating on the basic materials company’s stock.

Several other equities research analysts also recently issued reports on the company. Scotiabank lowered their price target on OR Royalties from $51.00 to $42.00 and set a “sector perform” rating on the stock in a research report on Tuesday, July 14th. Jefferies Financial Group cut their price objective on OR Royalties from $40.00 to $34.00 and set a “hold” rating for the company in a research report on Monday, July 6th. Zacks Research upgraded OR Royalties from a “strong sell” rating to a “hold” rating in a research note on Monday, September 14th. Wall Street Zen lowered OR Royalties from a “buy” rating to a “hold” rating in a report on Saturday, June 6th. Finally, Weiss Ratings downgraded OR Royalties from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, July 24th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, OR Royalties has a consensus rating of “Moderate Buy” and an average target price of $41.00.

OR Royalties Price Performance

NYSE OR opened at $36.75 on Wednesday. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 0.14. The company has a fifty day simple moving average of $33.47 and a 200 day simple moving average of $35.72. The company has a market cap of $6.85 billion, a P/E ratio of 24.50 and a beta of 0.80. OR Royalties has a 1 year low of $27.54 and a 1 year high of $48.06.

OR Royalties (NYSE:OR) last posted its earnings results on Wednesday, August 5th. The basic materials company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.01. The business had revenue of $97.82 million for the quarter, compared to analyst estimates of $97.93 million. OR Royalties had a net margin of 78.04% and a return on equity of 16.41%. On average, sell-side analysts predict that OR Royalties will post 1.25 EPS for the current year.

OR Royalties Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be paid a $0.065 dividend. This represents a $0.26 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Wednesday, September 30th. OR Royalties’s dividend payout ratio (DPR) is presently 16.67%.

Hedge Funds Weigh In On OR Royalties

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. FCA Corp TX raised its holdings in OR Royalties by 0.8% in the 1st quarter. FCA Corp TX now owns 39,647 shares of the basic materials company’s stock valued at $1,507,000 after acquiring an additional 330 shares in the last quarter. Allworth Financial LP grew its holdings in shares of OR Royalties by 20.0% during the 4th quarter. Allworth Financial LP now owns 2,305 shares of the basic materials company’s stock worth $82,000 after purchasing an additional 384 shares in the last quarter. State of Wyoming bought a new stake in shares of OR Royalties during the first quarter valued at approximately $28,000. Banque Cantonale Vaudoise bought a new stake in shares of OR Royalties during the first quarter valued at approximately $37,000. Finally, Grove Bank & Trust bought a new stake in shares of OR Royalties during the second quarter valued at approximately $32,000. 68.52% of the stock is currently owned by institutional investors.

OR Royalties Company Profile

OR Royalties Inc (NYSE: OR) is a precious metals royalty and streaming company that provides financing to mining companies in exchange for the right to receive a portion of future production or revenue from their projects. Its portfolio is primarily focused on gold, silver and other metals, allowing the company to participate in mining output without directly operating mines.

The company’s business includes royalty interests, streams, offtake agreements and other investments linked to producing, developing and exploration-stage mining projects.